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Marketing Management
Case:
“Yuva” is a fitness band catering to Indian youth in the lower
price segment. There is a vast market thatis health-conscious and wants the
latest tech in the wearable device category. There is currently two fitness
band that is being sold by the company.
Given below are their
prices.
|
Yuva Basic |
Rupees 899/- |
|
Yuva Pro |
Rupees 1199/- |
The product quality is
good given the price range. It has all fitness feature supported by colorful
design. It has a bigger display as compared to their competitors. The company
has purposely kept the display bigger for the youth audience as they want the
feel of a smartwatch at the price of a fitness band. The company has a plan to
sell only through an online platform. The product is available on the major
e-commerce platform as well as on the company’s website. It has just been 15
days that the product is launched but it doesn’t have any demand from
consumers. There is no problem with the product but there are no promotions
done by the company. You have been hired as a Marketing head of the brand Yuva.
1. Suggest various
types of segmentation for brand Yuva. (10 Marks) 800 Words
Answer:
INTRODUCTION:
Market Segmentation means dividing the potential market into
different segments or groups according to different homogenous bases. A company
can target different homogenous groups according to their behaviour and
response towards the commodity or service. Homogeneity, reaction, and
distinction are three
2. How will you
promote the brand Yuva online? Suggest a minimum of five online platforms
through which you will promote the brand and increase the sale. (10 Marks)
Answer:
INTRODUCTION:
Online promotion: Promoting a brand or product or service
through internet platforms is known as online promotion. It is useful when a
company wants better exposure of its brand at a reasonable cost. It increases
the brand of a company and helps a company reach more consumers at a wide range
(globally).
It is better for small
3.a. Explain any five
factors that will influence the consumer behavior for the purchase of Yuva
Fitness Band. (5 Marks)
Answer:
INTRODUCTION:
Consumer Behaviour: Consumer
behaviour is the study of a consumer's reaction to a certain product or service
regarding what they want to buy and their needs and desires. To know the
potential market that needs to be targeted, it is important to understand the
consumer's behaviour on a new or old product or service. The behaviour of a
consumer depends on various factors. And according to the consumer's behaviour,
a company can change their marketing strategies and various other
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